PRESS RELEASE

HOPFED BANCORP, INC.
For further information contact Bruce Thomas, President (270) 885-1171

HOPFED BANCORP, INC. ANNOUNCES $4.00 PER SHARE TAX FREE SPECIAL DIVIDEND

Hopkinsville,  Ky. November 17, 1999 - The Board of Directors of HopFed Bancorp,
Inc.  (Nasdaq:  HFBC),  the parent company of the  Hopkinsville  Federal Savings
Bank,  announced a $4.00 per share special cash dividend payable on December 17,
1999 to  shareholders  of record on  December  3,  1999.  HopFed  Bancorp,  Inc.
currently has 4,098,162  shares  outstanding and will have an aggregate  special
dividend payable of approximately $16,393,000.

     According  to Company  president,  Bruce  Thomas,  the special  dividend is
expected to be tax free  because it  represents  a return to  shareholders  of a
portion of the proceeds  raised when the Company went public in February,  1998.
He further stated that a nontaxable  return of capital would reduce the tax cost
basis of each outstanding share.

     The Board of  Directors  took this action  because it believes  the current
"equity  to  asset"  ratio  of over  27% is  excessive  and  will  prove to be a
deterrent  to  generating  acceptable  returns  on  equity  over the long  term.
President  Thomas stated that the Company will remain well  capitalized with the
"equity to asset" ratio exceeding 21% after payment of the special dividend.

     As  of  September  30,  1999,  HopFed  Bancorp,  Inc.  reported  assets  of
$218,636,000 and total stockholders' equity of $60,431,000.

     Hopkinsville Federal Savings Bank serves the adjacent counties of Calloway,
Christian,  Todd and Trigg from its main  office  located at 2700 Fort  Campbell
Boulevard,  Hopkinsville,  Kentucky 42240, its downtown branch office located at
605 South Virginia Street,  Hopkinsville,  and from its Cadiz, Murray and Elkton
branch offices located at 352 Main Street,  Cadiz,  Kentucky 42211, 7th and Main
Street, Murray, Kentucky 42071, and West Main Street, Elkton, Kentucky 42220.